Brent ticking higher but still net down on the week from a close of 113.12$/bbl last Friday. The WTI-Brent spread continues to drift lower as the risk of a US recession is impacting WTI more than Brent.
- Brent AUG 22 up 1.5% at 111.75$/bbl
- WTI AUG 22 up 1.6% at 105.92$/bbl
- Gasoil JUL 22 up 0.1% at 1291.25$/mt
- WTI-Brent down -0.08$/bbl at -5.8$/bbl
Tight near-term supply is driving the prompt time spreads even higher today despite the weakness in the outright crude prices. Brent 1-2 is trading at the highest since late May. Longer term spreads are following the trend from the flat price crude market and recovering some of the weekly losses.
- Brent AUG 22-SEP 22 up 0.18$/bbl at 3.77$/bbl
- Brent SEP 22-OCT 22 up 0.23$/bbl at 3$/bbl
- Brent DEC 22-DEC 23 up 0.13$/bbl at 11.99$/bbl
- WTI AUG 22-SEP 22 up 0.2$/bbl at 2.89$/bbl
- WTI SEP 22-OCT 22 up 0.22$/bbl at 2.75$/bbl
- WTI DEC 22-DEC 23 up 0.27$/bbl at 12.64$/bbl